U.S. stock futures tick higher ahead of inflation data, Trump Media surges
BuzzFeed, Home Depot report mixed earnings; GM, Trump Media fall premarket
Shares of Trump Media Technology Group jumped more than 10% at times during pre-market trading Friday morning following the former president's return to the social media platform.
U.S. stock index futures edged higher Tuesday in calm trading ahead of the release of key inflation data, which could provide clues about the Federal Reserve's interest rate hike path.
As of 6:45 a.m. ET, Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures had gained 0.1%, and Nasdaq-100 futures had advanced 0.2%.
On Monday, the Nasdaq Composite led the major averages higher, closing up 1.43% at 11,584.55. The S&P 500 rose 1.14% to 4,019.81, while the Dow Jones Industrial Average gained 0.76% to 33,309.51.
BuzzFeed (BZFD) stock soared 16% after the digital media company narrowed its net loss in the fourth quarter.
Home Depot's (HD) sales grew 0.6% last quarter, snapping a five-quarter streak of declining sales. But the company said Tuesday it expects sales to decline in the current quarter.
Shares of General Motors (GM) fell 2.5% premarket after the automaker reported a fourth-quarter loss. Trump Media & Technology Group (TMTG) shares also declined premarket, falling 3%.
Investors will also be keeping an eye on former President Donald Trump's return to the social media platform Truth Social. Trump was banned from major social media platforms after the Jan. 6, 2021 attack on the U.S. Capitol.
Institutional investors are also coming back to U.S. stocks. Bank of America strategists said in a note to clients Monday that they are seeing "a return of institutional flows into U.S. equities, especially from non-U.S. investors."
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